Perspective: Going Viking
Say or hear the word “Viking” and your thoughts most likely turn to ruthless, seafaring warriors who terrified Europe from about 700 to 1100 AD. In the “Old Norse” language it also means a pirate raid. Those who went off raiding in ships were said to be “going Viking.”
The Vikings came from three countries of Scandinavia: Denmark, Norway and Sweden.
In 1960, undeniable proof of Vikings in North America was found at L’Anse aux Meadows on the eastern shore of Newfoundland. They had landed, and briefly settled (can’t keep those boys still for long) in North America 500 years before Columbus.
Recently, and with the aid of satellite imagery, another potential Viking site has been found in Newfoundland, about 400 miles south of the first site. At the very least, the researchers in Point Rosee have found evidence of another early iron-working site in the province. The Norse were the only ones extracting iron from bogs 1,000 years ago.
Leap ahead 1,000 years and you’ll find that Vikings have made their way across all of North America to the shores of Vancouver, British Columbia. Now, however, the “pirate raid” has been tempered to an acquisition model that more closely resembles a partnership than a purchase.
We speak, of course, of the acquisition of Regency Fireplace Products by the Swedish firm NIBE. Near the end of 2016, NIBE purchased 65% of the company; the final 35% will be purchased by NIBE in 2022. The structure of the company remains the same, with Robert Little as CEO and Glen Spinelli as president. Key to any purchase by NIBE is that management stay in place.
In today’s parlance, apparently “going Viking” means creating a real partnership (see article A Win-Win Transaction).
What a Difference a Decade Makes
The Five Largest Companies in 2006 …
Market Capitalization (Billions)
- Exxon Mobil – $540
- General Electric – $463
- Microsoft – $355
- Citigroup – $331
- Bank of America – $290
… and now
- Apple – $794
- Alphabet – $593
- Microsoft – $506
- Amazon – $429
- Facebook – $414
The New York Times, April 23, 2017
All figures in 2017 dollars; companies as of April 20
Source: S&P Dow Jones Indices
Trends in Fabric
Outside of dealing with aggressive customers and pesky employees, the toughest task for specialty patio retailers most likely is selecting fabrics. Fabrics sell the furniture, and not vice-versa. Make a few too many mistakes, and a retailer can find herself unloading product at great discount at the end of the year. (We say “herself” because the vast majority of men prefer to delegate fabric selection to the smarter sex.)
It can be like learning a new language, e.g., boucle, jacquard, batiste, damask, double weave, dupioni, Ikat, jaspe, quatrefoil. Best to leave it to the ladies. In Trends in Fabric, you’ll find 34 examples of new fabrics for 2018 from top designers and mills. Read the article, look at the fabric colors and patterns, and get a head start on the Preview Show in Chicago, July 11-13. See you there.
